Having contracted for three
months in a row, the Index of Industrial Production (IIP) recorded a
growth of 1.8% in November 2019, mainly on account of an improvement in
the manufacturing sector, official data showed on 10th January 2020.
The IIP growth in November
2018 was 0.2%.
Details
According to the National
Statistical Office (NSO) data, the growth in the manufacturing sector was
2.7% as against a contraction of 0.7% in the same month on 2018.
Electricity generation shrank
by 5%, as against a growth of 5.1% in November 2018.
The IIP growth during
April-November in the current fiscal came in at 0.6%, far slower than the 5% in the same
period of 2018-19.
Mining sector output
decelerated to 1.7%, from 2.7% in the year earlier period.
Background
NSO:
NSO as an agency was
envisaged firstly by Rangarajan Commission to implement and maintain
statistical standards and coordinate statistical activities of Central and
State agencies as laid down by the National Statistical Commission (NSC).
This commission had also
recommended setting up of the NSC, headed by a person with a Minister of
State-level designation, to serve as a nodal and empowered body for all
core statistical activities of the country.
NSO was formed with the
merger of National Sample Survey Office (NSSO) and Central Statistics
Office (CSO) under Ministry of Statistics and Programme Implementation
(MoSPI).
IIP:
The Index of Industrial
Production (IIP) is an index that shows the growth rates in different
industry groups of the economy in a fixed period of time.
It is compiled and published
monthly by the Central Statistical Organization (CSO), Ministry of
Statistics and Programme Implementation.
IIP is a composite indicator
that measures the growth rate of industry groups classified under:
Broad sectors, namely,
Mining, Manufacturing, and Electricity.
Use-based sectors, namely
Basic Goods, Capital Goods, and Intermediate Goods
